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Innovative CSR

  1. 1. Corporate Social Responsibility Innovation Jessica Margolin 2012 Friday, May 11, 2012
  2. 2. Innovative CSR Removing Information Asymmetry Increases Market Valuation Innovation + Sustainability = Recruitment & Retention New Focus Develops Strategic Advange * Baruch Lev, "Winning Investors Over" (2012) Friday, May 11, 2012
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  5. 5. Shapes of the Climate Crisis: Corporate Growth Curves Are Derailed This graph shows the pace required for carbon emission reductions to avoid >2° warming, based on peak emission date. For example, if we can start cutting emissions by the middle of this decade, we'd have until 2050 to cut carbon emissions by 80%; if we wait until 2020, we'd only have until 2035; and if we wait until 2025, we'd have about a year to cut emissions by 80%. * Source: grist.org Friday, May 11, 2012
  6. 6. The "Acts of God" Level Risk of 2 Degrees "What the paleoclimate record tells us is that the dangerous level of global warming is less than what we thought a few years ago. The target that has been talked about in international negotiations for 2 degrees of warming is actually a prescription for long-term disaster. Two degrees of warming will lead to an ice- free Arctic and sea-level rise in the tens of meters."* The degree to which 2 degrees will alter the earth's habitability will impact individuals' lives so severely through extreme weather, food and water scarcity, loss of land use, and disease, that companies who are seen as active contributors to the catastrophe will be lucky to be reviled only as tobacco companies had been in the past. *James Hansen, director of NASA's Goddard Institute for Space Studies. Friday, May 11, 2012
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  8. 8. Mitigating Real Risk & Building Trust Friday, May 11, 2012
  9. 9. CSR = Building Business Upon Feedback Systems Company Employees Customers Community Friday, May 11, 2012
  10. 10. CSR Builds Strategic Assets Company Employees Motivation Loyalty Evangelism Customers Community Friday, May 11, 2012
  11. 11. At the Core of CSR Is Capacity for Future Growth Company Employees Motivation Capacity Loyalty Evangelism Customers Community Friday, May 11, 2012
  12. 12. CSR Builds Resilience Company Employees Motivation Capacity Loyalty Evangelism Customers Community Risk Management Friday, May 11, 2012
  13. 13. How to Build an Innovative CSR Program Lead Innovate Solutions Build the Program Friday, May 11, 2012
  14. 14. Leadership Walk the Talk The first part of the process involves building internal capacity. It has several elements: - Discovery of the distinctive competencies of the organization and building trust of other organizational leaders - Determining the issues of concern to the employees, customers, and the community-at-large. - Evaluating existing processes and the histories that led to their establishment - Understanding the existing hubs of innovation and the specific innovative ideas that have emerged By building this landscape - primarily by 1:1 interviews - leadership finds the embedded non-financial resources of the company and begins establishing a benchmark and developing metrics for change. The process of mostly 1:1 interviews with a few larger group collaboration session builds trust throughout the organization. The mechanism for building trust is about listening and considering others' viewpoints and respecting the boundary between transparency and privacy. The process also enables learning about cultural hooks and triggers, developing an understanding of process, and enabling the beginning of a map of the existing distribution of knowledge and creativity throughout the organization. By sharing this discovery process as well as its results, an Innovative CSR progam behaves responsibly to all stakeholders in the organization. It is crucial for the leadership to walk the talk. Friday, May 11, 2012
  15. 15. Innovate Solutions Build Metrics Reward Employees The research and discovery pocess will uncover some innovations of interest. However part of the innovation process is establishing a culture and a set of mechanisms where innovations can be continually brought forward, evaluated, validated in whole or in part, and implemented. To create the relevant mechanisms, first an innovative CSR program develops method for establishing the creation of knowledge and relationships and making these transparent. This is helpful not only for those people who would like to see their innovations adopted, but also for managers to be able to fully assess the resourcefulness of their employees, and executives to see nascent possibilities waiting to be developed. By creating metrics in alignment with the goals of employees, management, and strategic executives, an innovative CSR program can monitor and adapt to changing market conditions. Furthermore, for many young recruits, the knowledge that innovation in alignment with social responsibility is at the forefront of an organization's strategic direction makes that organization all the more compelling. This helps recruitment goals as well as reinforcing motivation. Friday, May 11, 2012
  16. 16. Build the Program Conveniently, moving from CSR as communications function to a business function is relatively easy to support, since it is changing a program from cost-center to profit-center. The first objective involves taking inventory of mechanisms -- and the thought leaders that built them -- that have already been developed for tracking the development of trust, knowledge and health, within the organization. Typically work of this nature has been instigated within the supply chain, within governance groups, and within some product lines; however, it hasn't been developed in such a way that it can be integrated throughout the company, and it's rarely already being monitored by the financial and investor relations functions. Consequently, the first "build" is often developing a communications framework among the different existing implementations, enabling the sharing of information, and developing and executing a plan to integrate this with the financial rollup. The second objective involves outreach in the community. Many companies are beginning to develop "excess capacity" programs, where their expertise and product are offered at deeply discounted or pro bono rates to community groups. Organizing this program dovetails with the first objective, and extends an understanding of skills, interests, and social ties into the community outside the organization. Conversely, achieving this second objective involves organizing the understanding and progress made addressing community needs over time, and integrating this information with the sales conversion funnel and marketing strategy groups. The third objective is longer term, involving the creation of socially beneficial products from the information gleaned above. This objective confers three major benefits: • Invigorating the product line by building products that are "aspirins," using the parlance of venture capitalists. • Supporting recruitment and retention of high-achieving, idealistic new graduates • Reinforcing innovative thinking within the organization, overall. Over time, the portfolio of products at the company can increasingly reflect those that agressively improve the capacity of the planet while cementing the firm's place as a leader in innovation and the development of products that are highly resistent to economic fluctuations. Friday, May 11, 2012
  17. 17. Jessica Margolin email: Jessica@Margolin-Consulting.com LinkedIn: linkedin.com/in/margolin Twitter: twitter.com/ kitode Friday, May 11, 2012